Washington (CNN) — U.S. contractor Alan Gross, held by the Cuban government since 2009, was freed Wednesday as part of a landmark deal with Cuba that paves the way for a major overhaul in U.S. policy toward the island, senior administration officials tell CNN.

President Obama is expected to announce Gross’ release at noon.

Gross’ “humanitarian” release by Cuba was accompanied by a separate spy swap, the officials said. Cuba also freed a U.S. intelligence source who has been jailed in Cuba for more than 20 years, although authorities did not identify that person for security reasons. The U.S. released three Cuban intelligence agents convicted of espionage in 2001.

President Barack Obama is also set to announce a broad range of diplomatic and regulatory measures in what officials called the most sweeping change in U.S. policy toward Cuba since the 1961 embargo was imposed.

For a President who took office promising to engage Cuba, the move could help shape Obama’s foreign policy legacy.

Bingley Update:

Well and predictably the Right Wing Smear Machine instantly lashes out

Trading Mr. Gross for three convicted criminals sets an extremely dangerous precedent. It invites dictatorial and rogue regimes to use Americans serving overseas as bargaining chips. I fear that today’s actions will put at risk the thousands of Americans that work overseas to support civil society, advocate for access to information, provide humanitarian services, and promote democratic reforms.

This asymmetrical trade will invite further belligerence toward Cuba’s opposition movement and the hardening of the government’s dictatorial hold on its people.

Oops, my bad; that was actually the statement from my senior Senator Robert Menendez (D) NJ…